Thursday, August 2, 2012

Pennsylvania Update: The Educational Opportunity Scholarship Act

Earlier this week, AFC announced that more than 242,000 students may be eligible to participate in the new Educational Opportunity Scholarship Tax Credit Program.  And now we are hearing more about the new scholarship tax credit program that would help students in the state’s worst performing public schools.

The Pennsylvania Department of Community and Economic Development, which administers the new program, yesterday released guidelines for businesses that want to donate to approved opportunity scholarship organizations (OSOs).

Businesses authorized to do business in the Keystone state and who are subject to taxes can receive a 70 percent tax credit for contributions of up to $400,000 to approved OSOs.  If a business contributes for two years, it can receive a 90 percent tax credit.

If a tax credit application is approved, businesses have 60 days to donate its contribution to an OSO.

Applications for tax credits in fiscal year 2012-13 are due by August 8, 2012.

School Choice Now! will keep you updated on this new program as it prepares to serve students in the 2012-13 school year. 

- American Federation for Children | Alliance for School Choice, MSG

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